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Selling online through a marketplace has never been easier. A few photos, a quick description, and suddenly you’ve turned that pile of clothes, gadgets or “I’ll definitely use this one day” items into cash. Platforms like eBay, Vinted and Etsy have made it simple for anyone to sell whether it’s the occasional clear-out or a full-blown side hustle. What’s less obvious, though, is what happens from a tax point of view. While selling online might feel casual, HMRC is paying more

If you’ve ever been in your accounting software and spotted a button labelled “Journal Entry” , you might have had one of two reactions: “That looks important, I’ll leave that alone.” “How hard can it be?” If you’ve leaned towards option two… you’re not alone. Journals are one of those accounting features that sound mysterious, slightly intimidating, and just tempting enough to click when something doesn’t quite balance, but before you go anywhere near that button, let’s brea

Simplified expenses sound like a dream. Less paperwork. Fewer calculations. HMRC-approved shortcuts. What’s not to like? Well… like most things in tax, they’re helpful when used properly . But they’re not always the best option and they don’t suit every situation. Let’s break down what simplified expenses actually are, how they work, and when they might (or might not) be right for you. Who can use simplified expenses? Simplified expenses are available to sole traders and part

Choosing accounting software can feel a bit like choosing a gym membership. You sign up with good intentions, log in a couple of times… and then quietly avoid it because it’s more complicated than you expected. The good news is, it doesn’t have to be like that. For many sole traders, freelancers and contractors, FreeAgent is one of the simplest and most user-friendly options out there. In some cases, you can even get it for free. Let’s take a look at what it is, why we like i

If you’re a sole trader, you’ve probably heard the term “drawings”  at some point. It sounds simple enough... Taking money out of the business, right? Well… yes. But also not quite in the way many people think. Drawings are one of those accounting terms that seem obvious until you start looking at profit, tax, and your bank balance. Let’s break it down! . First things first: this is mainly for sole traders Before we go any further, it’s worth saying, drawings apply to sole tr

Stocktaking is one of those jobs that often gets pushed down the list. It ’s not urgent. It’s not glamorous and let’s be honest, counting things rarely tops anyone’s favourite task list. However, if your business holds stock, it’s one of the most important things you can do to understand your numbers properly. Done well, stocktaking gives you clarity. Done badly (or not at all), it can quietly distort your profits, your tax, and your decision-making. Let’s break down why it

When you’re choosing someone to handle your business finances, trust is everything. You’re sharing sensitive information, relying on accurate reporting, and trusting that the person handling your books understands the rules and keeps up with them as they change. That’s one of the reasons our practice is licensed by the Institute of Certified Bookkeepers (ICB). Emma is an ICB licensed bookkeeper because she is a member of the ICB and holds the necessary ICB qualifications. Whi

March always feels reflective. International Women’s Day arrives first, celebrating women in business, leadership and progress. A week later, Mother’s Day follows, celebrating women in a very different, deeply personal role. For me, those two dates aren’t separate. They’re connected because my journey into business didn’t happen before motherhood. It happened after. Becoming a mum before building a business I became a mum young. At a time when many people were just starting c

Hospitality is fast-paced, people-focused and often brilliantly chaotic. One minute you’re serving brunch to a full café, the next you’re juggling a last-minute cancellation, a supplier delivery, and someone asking why oat milk costs extra. Behind the scenes, though, the numbers need to make sense. Bookkeeping in hospitality isn’t quite the same as bookkeeping in other industries. There are specific pressure points and if they’re not handled properly, they can quietly cause p

At some point, many business owners look at their to-do list, look at their family, and think: “Hang on… could my business pay them for helping out?” The short answer is: yes, it can if  it’s done properly. Paying your children or your spouse through your business can be completely legitimate, tax-efficient, and sensible. It can also be a fast track to HMRC questions if it’s done badly, casually, or a bit… creatively. Let’s talk about: Why people do this What the benefits can

If you’re a sole trader or a landlord, you’ve probably heard the phrase MTD ITSA floating around for a while now. For some people it’s been filed under “future problem”. For others, it’s been quietly ignored in the hope it might go away. Unfortunately (or fortunately, depending on your love of digital admin), it’s very much happening and it’s now less than eight weeks away from becoming mandatory for those with turnover over £50,000. So this feels like a good moment to expla

Changing software is a bit like changing your favourite café. Even if the coffee’s gone downhill and the chairs are wobbly, there’s still a sense of loyalty, habit, and “but I’ve always come here”. That’s pretty much how we felt about QuickBooks. We’d used it for a long time. We liked it. It did a lot of things well. And if I’m being honest, I was genuinely a bit sad to leave it behind. But over time, it became clear that it just wasn’t meeting our needs anymore or, more impo

A guest blog taken from an article by Megan Singleton, Director at Leonard Curtis    Over our years of experience advising businesses, there is nothing we have not seen in terms of business distress.  A key piece of advice to business owners is to watch for the warning signs - acting early can make all the difference.    Here are seven things every business owner should keep in mind if they feel things may be heading in the wrong direction.    1. Don’t bury your head and hope

When you first start out in business, it’s tempting to keep things simple. You already have a bank account. Money is money. What’s the harm in using the same one for business and personal spending or even for more than one business? Quite a lot, as it turns out. Mixing business and personal finances (or running multiple businesses through one account) is one of the most common issues we see, especially with sole traders and people juggling side hustles. It’s rarely done out o

VAT is one of those things that often feels straightforward… right up until it suddenly isn’t. Many people register for VAT thinking it’s just a case of adding 20% to invoices and sending HMRC a return every few months. In reality, VAT has a habit of catching people out especially when you’re new to it or juggling everything else that comes with running a business. The good news? Most VAT mistakes are very common, very fixable, and very avoidable once you know what to look ou

If the words “Self Assessment”  trigger a mild sense of panic, you’re not alone. Every January, thousands of people promise themselves they’ll “do it earlier next year”… and then find themselves staring at the self assessment deadline wondering where the time went. So, with 31 January 2026 approaching for the 2024–25 tax year, now is a very good moment to get clear on what’s required, who needs to submit a return, and what actually needs pulling together. No scare tactics. No

It’s the start of a new year, which feels like a good time to clear a few things out. Old emails, half-finished to-do lists and while we’re at it, some of the accounting jargon that gets thrown around as if everyone automatically understands it. If you’ve ever nodded along while your accountant mentioned accruals , trial balances , or DLA , then quietly wondered if you should Google it later, this blog is for you. You don’t need to become an accountant. You just need enough

Success is one of those words we all think we understand… until we stop and actually look at it. It tends to be measured in numbers. Turnover, number of clients, bonuses, growth, targets hit, targets smashed. Bigger figures, better results, job done. To be clear, there’s nothing wrong with that. Those things matter. They pay the bills, create security, and keep businesses moving. Over time, I’ve realised they’re only part of the picture. As I’ve got older, and especially as I

Christmas is the season of giving……unless you’re HMRC, in which case it’s the season of giving rules  about giving. Every year, small business owners ask the same questions: “Can I buy staff Christmas gifts?” “Can I send clients a bottle of wine?” “Are gifts tax-deductible?” “What about VAT?” “Can my limited company buy me  a present?” So let’s unwrap the rules around festive gifting for staff, clients, suppliers, directors, sole traders, and everyone in between with zero jar

It’s that time of year when Christmas lights twinkle, Michael Bublé reappears from hibernation, and business owners across the UK ask the same question: “Can I claim the work Christmas party on the business?” The answer is…Yes! Well, sometimes. It depends who’s coming, how much you’re spending, what type of business you have, and crucially whether HMRC thinks you’ve been naughty or nice. Grab a mince pie and let’s unwrap the rules around staff parties, clients, suppliers, pa